P&G, Magnifi to start online marketing firm

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Cincinnati-Procter & Gamble Co. and Magnifi Inc., a Cupertino, Calif.-based branding management company, are to launch an online start-up intended to bring P&G's products to market faster. The as-yet-unnamed firm will link all those involved in the development and marketing of P&G's products. P&G executives, external ad agencies, and retailers will be able to access the new company's Internet network using proprietary software. P&G is contributing a financial amount that has not been disclosed to the start-up, as well as marketing know-how. Magnifi is contributing its technology and online brand management expertise. The new company, which will eventually employ 1,000 people, is intended to streamline P&G's marketing process, which has been criticized by brokerage analysts for being cumbersome.
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